Industry News (Week of 9/24/07)

BNP Media has announced the acquisition of the Professional Services Division of Ascend Media, which includes Ascend’s Food, Beverage and Packaging group, as well as the Gaming group of magazines, conferences, web sites, and events.

“All of the titles have been well managed by an excellent staff that has integrated print advertising, events and online media. We now have robust products for any customer looking to reach each and every corner of the food, beverage, packaging and gaming markets,” said Taggart Henderson, co-CEO of BNP Media.

“We've been extremely impressed with the way the Professional Services Division team has evolved and grown into a diversified B2B media business. As part of BNP Media, it will have an even more compelling strategic fit that will allow the team and their brands to build on this year’s impressive growth rate,” said Cam Bishop, president and CEO of Ascend Media.

Clear Seas Research, BNP Media’s market research company, is concurrently announcing their entrance into these industries. “Clear Seas will present unparalleled custom-market research in the food, beverage, packaging and gaming industries via our combination of online communities, industry knowledge and superior analysis. We look forward to creating research solutions for all companies wishing to gain competitive advantage in these arenas,” said Mitchell Henderson, co-CEO of BNP Media.

DOW EPOXY ANNOUNCES STRATEGIC ACQUISITIONS

Dow Epoxy, a global business unit of The Dow Chemical Company has announced the signing of definitive agreements to acquire UPPC AG in Germany and POLY-CARB Inc. and GNS Technologies in the U.S. Each of these businesses is a leading epoxy systems formulator in its region. Dow expects to complete each acquisition within 30 to 45 days. Financial terms of the transactions were not disclosed.

These acquisitions are consistent with Dow’s strategy to invest in its downstream performance businesses. For Dow Epoxy, the acquisitions will accelerate the growth and geographic expansion of its new Dow Epoxy Systems business unit, which launched earlier this year. Dow Epoxy Systems offers solution-based epoxy systems to the industry.

“Dow Epoxy is a worldwide leading supplier of epoxies with considerable know-how, manufacturing and R&D capabilities, scale, and global reach,” said Patrick Ho, business group president, Dow Epoxy & Specialty Chemicals. “Dow Epoxy Systems leverages our broad chemistry and applications know-how to provide innovative, solution-based systems to our customers. This supports Dow’s strategy to drive profitable growth by being a more customer- and market-driven company.”

LANXESS SELLS BORCHERS GMBH TO OM GROUP

The Leverkusen-based chemical company LANXESS continues to consolidate its portfolio and is selling its wholly owned subsidiary Borchers GmbH, located in Langenfeld, Germany, including all overseas activities, to OM Group, Inc. (OMG) of Cleveland, Ohio. LANXESS Management Board member Dr. Werner Breuers commented, “Once again we have found a sustainable solution for a peripheral business.” Both parties have agreed not to disclose the purchase price. The transaction is still subject to the approval of the German Federal Cartel Office. Closing is expected at the end of September.

With a global workforce of more than 90, Borchers specializes in developing, manufacturing and marketing additives for coatings, dispersions and printing inks. The company was acquired by Bayer in 1986 and assigned to LANXESS in 2004 within the context of the LANXESS spin-off. In 2006, Borchers posted sales of EUR 36 million. The transaction covers Borchers GmbH in Langenfeld and its French subsidiary Borchers, France SAS, which operates a production facility in Castres. In addition, the agreement between LANXESS and OMG comprises Borchers’ sales employees in China, the United States, India, and Singapore.

OMG manufactures and markets metal-based specialty chemicals. Headquartered in Cleveland, the company employs around 1,250 people worldwide. Group sales in 2006 were slightly over $660 million. Until now, OMG has been represented in Germany by a sales office located in Düsseldorf.

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